There isn’t much news to report when it comes to the markets so far this week.
We have seen a period of non-activity as South American weather has been good and the dollar has tried to help out by going down a bit.
“The crude oil has backed off this week. It has made four month lows,” Wayne Nelson of L&M Commodities told The Central Illinois Farm Network Wednesday afternoon.
There have been a few sales to China, but all-in-all, Nelson considers this a “lackluster” week as we wait to see what the USDA numbers show us on March 31.
“We are hearing (acreage) could be a little higher for the soybeans. As we talk to our seed dealers, we are seeing some increases in soybean sales as far as seed beans this year,” Nelson said.
L&M Commodities is located in New Market, Indiana and can be reached at 1-800-382-0986.
Nelson will be among the panelists at the Central Illinois Farm Network’s 2017 Ag Outlook Meeting in Fairbury Tuesday night at Gig’s Place. A free dinner will be served at 6 p.m. with the meeting to follow. To reserve a spot, call us at 217-530-3107.